CAPTRUST Tower in Raleigh,North Carolina

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RALEIGH, NC – KBS has sold CAPTRUST Tower in Raleigh, NC toPreferred Office Properties.

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The fully-leased, 300,389-square-foot building featuresnine-stories of office space atop a six-level parking garage,located in the North Hills district of Midtown Raleigh. The230-feet tall Class A office tower, built by Kane RealtyCorporation, bodes retail and restaurant offerings on the groundfloor. The building is LEED Gold certified by the US Green BuildingCouncil.

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KBS initially purchased CAPTRUST Tower with Kane RealtyCorporation in 2013. The joint venture partner will continue asowner alongside Preferred Office Properties.

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KBS was represented in the sale by Patrick Gildea, Ben Kilgoreand Will Yowell of CBRE. This transaction marks Preferred OfficeProperties' second investment in the Raleigh market.

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According to CBRE's Q1 2019 Office MarketView, theRaleigh-Durham office market has had six consecutive quarters ofpositive net absorption. Raleigh was also recently named number twoon Livibility.com's 2019 Top 100 Best Places to Live list.

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KBS is a private equity real estate company, a SEC-registeredinvestment advisor and global commercial real estate owner. Foundedin 1992, KBS and its affiliated companies have completed $40billion in transactions.

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Kane Realty Corporation, founded in 1978, is avertically-integrated commercial real estate firm that focuses ondeveloping, managing and leasing various real estate products.

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.